With House prices falling, the renting sector is becoming more expensive and is experiencing an almost mirror price change. The cost of renting for students has increased by 20% in the past 4 years. Renting costs are rising because there is less supply of rented accommodation. Landlords are renting to more professional workers who can’t [...]

The Council of Mortgage Lenders reported a 41% rise in home repossessions in the first 6 months of this year. 18,900 homes were seized in the first 6 months of this year compared to 13,000 in the last 6 months of 2007. The number of people in arrears by more than 3 months also rose [...]

The number of loans approved for house purchases in June was just 21,118, a drop of 23pc compared to May, according to the British Bankers’ Association. Since June last year, mortgage approvals have dropped significantly (64% on last year. This slump in the mortgage sector reflects the current credit crunch, lack of confidence and concerns [...]

The Bank of England announced plans to inject extra liquidity into the troubled mortgage sector. The government and Bank of England have been concerned about how the level of mortgages has dried up since the start of the subprime crisis. The scheme allows big banks like Natwest, HSBC, Halifax and others to exchange mortgage securities [...]

Recent data suggested the pace of house price falls have accelerated in the UK. Many analysts now suggest that house prices may fall by upto 25% within the next 12 months. How Much will House prices Fall By? Halifax predicts a moderate house price fall of 5 -10%. The reasons for a moderate house price [...]

Business for lenders who specialise in lending to low income groups has increased as many high Street banks make it more difficult to borrow. About 7 million people in the U.K. have difficulties obtaining mainstream credit, according to the British Financial Services Authority. However, many Mortgage Lenders are reporting difficulties in borrowing enough money in [...]